Four container giants agree new alliance

APRIL 20, 2016 — CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line today signed a Memorandum of Understanding to form a new alliance enabling each of them to offer competitive products and comprehensive service networks covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, Trans-Pacific, Asia-North America East Coast and Trans-Atlantic trades.

Called the Ocean Alliance, the new alliance plans to begin operations in April 2017. The initial period of the alliance will be five years.

"This new partnership will allow each of its members to bring significantly improved services to its respective customers," member carriers said in a statement. "Shippers will have an attractive selection of frequent departures and direct calls to meet their supply chain needs, including access to a vast network with the largest number of sailings and port rotations connecting markets in Asia, Europe and the United States."

"The Alliance will also bring service reliability and the most efficient integration of the latest vessels in a fleet of over 350 containerships. Initially the deployment will cover more than 40 services globally mostly connected with Asia, including about 20 services each in the U.S. and Europe related trades."

"Joint service cooperation is an essential part of our own strategic planning. This new alliance enables us to optimize fleet deployment and offer competitive service to meet customers' changing demands," said Lawrence Lee, President of Evergreen Marine Corporation.